Bar Harbor Bankshares (NYSEAMERICAN:BHB) Increases Dividend to $0.30 Per Share

Bar Harbor Bankshares (NYSEAMERICAN:BHB) announced a dividend on Thursday, April 18th, NASDAQ reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.30 per share by the financial services provider on Friday, June 14th. The ex-dividend date of this dividend is Wednesday, May 15th. This is an increase from Bar Harbor Bankshares’s previous dividend of $0.22.

Bar Harbor Bankshares has raised its dividend by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 3 years. Bar Harbor Bankshares has a dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bar Harbor Bankshares to earn $2.83 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 39.6%.

Bar Harbor Bankshares Stock Up 6.8 %

Shares of Bar Harbor Bankshares stock traded up $1.62 on Friday, hitting $25.48. 44,136 shares of the company’s stock traded hands, compared to its average volume of 33,781. Bar Harbor Bankshares has a one year low of $19.55 and a one year high of $30.37. The firm has a market cap of $387.04 million, a price-to-earnings ratio of 8.61 and a beta of 0.74. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $36.64 million during the quarter, compared to analysts’ expectations of $37.10 million. Bar Harbor Bankshares had a return on equity of 10.92% and a net margin of 21.36%. Equities research analysts anticipate that Bar Harbor Bankshares will post 2.75 EPS for the current year.

Analyst Ratings Changes

Separately, TheStreet lowered Bar Harbor Bankshares from a “b” rating to a “c+” rating in a report on Monday, March 11th.

Institutional Trading of Bar Harbor Bankshares

A number of large investors have recently bought and sold shares of BHB. BNP Paribas Arbitrage SNC lifted its stake in shares of Bar Harbor Bankshares by 63.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 7,796 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 3,019 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Bar Harbor Bankshares during the 1st quarter valued at about $206,000. First Republic Investment Management Inc. purchased a new position in Bar Harbor Bankshares during the 4th quarter valued at about $205,000. Hsbc Holdings PLC purchased a new position in Bar Harbor Bankshares during the 4th quarter valued at about $203,000. Finally, Legal & General Group Plc increased its holdings in Bar Harbor Bankshares by 6.4% during the 4th quarter. Legal & General Group Plc now owns 5,469 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 330 shares during the period. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.